After almost two years of pandemic, many of us are looking with greater interest to the aspects of life that we can control.
In business and in our personal lives, budgets are one of those things.
According to Gartner’s latest analysis in Q3 2021, IT spending was slated to total almost 9% more in 2021 than it did in 2020. They expect it to rise at least another 5% in 2022.
Why the rise? And how should businesses account for that in their own IT budgets?
And come to it, what’s the best way to build an IT budget in the first place?
New technology, the push for the “digital transformation” and new standards of service have required companies to scale their IT game up fast. In all that scaling, there’s new opportunity to be had, too.
For instance, rapid digital transformation has helped companies become more flexible. It’s also made them more resilient. Both are qualities your company will need to be on solid footing for the future.
Here’s what to factor into your IT budget this year.
New Tech Will Change Your IT Budget
One of the age-old business lessons that most have heard is that to make money, you have to spend it.
Generally, this logic is applied to marketing. Without marketing, you won’t bring in new business. And the only way to bring in more revenue is with new business, whether with new clients or through remarketing to your existing clients.
The same logic is increasingly true for IT investments. By investing in software, apps, infrastructures and IT services that save us time, we decrease the cost of operations.
With that new tech, we also open up new doors to new service offerings and products.
Here are two of the core IT investments to ramp up this year as a solid operational foundation:
• Secure cloud storage
Updating your office tech
Software and hardware requirements will both be part of a smart 2022 budget. These new solutions sometimes carry sticker prices that might leave a lump in your throat, but the improved operations they bring will have measurable rewards.
At a bare minimum, with so many remote workers and hybrid employees, you’ll have to factor more virtual collaboration tools into your 2022 IT budget.
In fact, even for employees in the office, keeping everyone at their desks to jump into a shared document is still more attractive than casting one document up on the wall in a conference room. Remote collaboration tools are truly the way of the future.
New Security Needs Will Change Your IT Budget, Too
More data in the cloud in more apps and software will mean more vulnerabilities to your business.
This sounds like a solid reason not to invest in new systems, but don’t be fooled—a stick in the mud might be safer than a tree growing high into the sky, but which would you rather be?
In fairness, IT risk won’t have to be your headache, anyway. That is, if you factor security needs into your IT budget, then it certainly won’t be.
There’s new malware out there, for sure, with more popping up every day. There’s also the reality that an interruption to app access—due to malicious causes or not—is another risk to your business. Get a technology contingency plan in place for the times your team is offline for any reason.
Work these top security considerations into your 2022 budget, and you’ll be in good shape:
Better backups
Better email security
Secure passwords
Device and gadget security

Have questions about your IT budget? Get in touch with us, we’d love to help!